Sean "Diddy" Combs was once regarded as one of the most influential figures in hip-hop history... but that was way before his federal trial and dozens of civil lawsuits. Now, as the disgraced businessman sits in a New York City jail cell with his reputation permanently stained, many are wondering what's next for Diddy.
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Namely, folks are wondering what will happen to all of his millions?
Less than a decade ago, Diddy was on the way to billionaire status, joining the likes of Rihanna and Jay-Z as self-made music moguls. The Bad Boy founder has had his hands in almost every business venture imaginable. From Cîroc liquor to his Sean John fashion imprint to his recent record label Love Records and extensive real estate portfolio, Diddy was seemingly on top of the world. But folks might be shocked to find out just how quickly his financial empire has come crashing down.
The 55-year-old's net worth took a drastic dip since his incarceration. In 2018, Diddy was reportedly worth $825 million, on the way to billionaire status, according to Forbes. At the time, he beat out Dr. Dre and Drake for the no.2 spot on hip-hop's wealthiest artists list. But after Casandra "Cassie" Ventura's bombshell civil lawsuit against him in 2023, things took a never-before-seen turn for the worst.
Diddy settled Cassie's suit for $20 million in less than 24 hours, but the bombshell filing only opened the floodgates for more alleged victims to file against him. Quickly, others came out of the woodworks, accusing the disgraced millionaire of rape, sexual abuse, kidnapping and more. As it stands, Diddy still is facing dozens of legal cases against him, which could start eating away at his millions.
To top to all off, hotel footage was leaked showing him kicking, beating and dragged Cassie in 2016. And after a sketchy apology video from Diddy and him stepping down as the chair of Revolt, it was clear his days as a financial powerhouse and respected mogul were numbered. In June 2024, Forbes estimated his net worth was cut in half, sitting at just $400 million.
It's not shocking that this drop came in light of Diddy's federal charges on racketeering conspiracy, sex trafficking and prostitution. On July 2, Diddy was acquitted on three of the five charges against him. Now, he's facing a maximum 20 years in prison for facilitating the prostitution of his two ex-girlfriends.
After the split verdict, legal experts told USA Today Diddy will likely keep what's left of his empire. This includes his houses, cars and additional business entities. But had he been found guilty of violating the RICO, it would've been another story. "The government overreached. They wanted a RICO conviction so they could then go seize [Diddy's] assets under RICO forfeiture laws," civil trial lawyer David Ring told the outlet.
"Thats not going to happen now," Ring continued. "Instead, he likely serves a couple years in prison and returns to his business empire." If the government still wants to go after Diddy's assets, they would have to prove his wealth directly furthered the two cases of prostitution he was found guilty of.
Combs currently owns mansions in Los Angeles and Miami, a Gulfstream G550 jet worth more than $25 million, Bad Boy Records, at least 20 luxury cars, an extensive art collection and more, according to reports. But already, he's been making efforts to downsize, including trying to sell off his LA mansion.
Diddy still has a long way to go towards freedom. He will remain behind bars until his original Oct. 3 sentencing date.
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